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Alcoa To Sell Two Soft-Alloy Extrusion Plants; Close One in Tifton, Ga
PITTSBURGH--Alcoa (NYSE:AA) today announced it has agreed to sell its two remaining
U.S. soft-alloy extrusion facilities in Warren, Ohio and Plant City,
Florida to Golden Aluminum (www.goldenaluminum.com).
Terms of the agreement were not disclosed.
The plants in Warren and Plant City extrude aluminum into products used
in the building and construction and commercial transportation markets.
The plants employ approximately 130 and 200 people, respectively. The
transaction is expected to be completed by the end of September.
Alcoa also announced that it will close its Tifton, Georgia soft-alloy
extrusion facility by the end of October, 2007. The company was not able
to secure a suitable buyer for the plant which employs approximately 200
people. Impacted salaried employees will be offered severance and work
assistance programs. Severance arrangements for bargaining unit
employees will be subject to discussion with union officials.
Earlier this year Alcoa contributed nearly all of its soft alloy
extrusion business into a joint venture with Sapa Group. That joint
venture was formed in June, 2007.
Alcoa is the world's leading producer and manager of primary aluminum,
fabricated aluminum and alumina facilities, and is active in all major
aspects of the industry. Alcoa serves the aerospace, automotive,
packaging, building and construction, commercial transportation and
industrial markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses to customers. In addition to aluminum
products and components including flat-rolled products, hard alloy
extrusions, and forgings, Alcoa also markets Alcoa®
wheels, fastening systems, precision and investment castings, structures
and building systems. The company has 116,000 employees in 44 countries
and has been named one of the top most sustainable corporations in the
world at the World Economic Forum in Davos, Switzerland. More
information can be found at www.alcoa.com.